The URL can be used to link to this page

Home My Public Portal About033-2001- ABATEMENT - RECYCLING CENTER - REAL ESTATE - NEW MANUORDINANCE NO.33-2001 A SPECIAL ORDINANCE AUTHORIZING THE APPROVAL OF A STATEMENT OF BENEFITS FOR A PROPERTY OWNER APPLYING FOR DEDUCTIONS UNDER I.C. 6-1.1-12.1 WHEREAS, Common Council has previously designated eight economic revitalization areas within the City of Richmond, and WHEREAS, I.C. 6-1.1-12.1 requires the Common Council as the designating entity to approve all Statements of Benefits required to be filed by property owners applying for deductions in assessed valuations for the installation of new manufacturing equipment or for the redevelopment or rehabilitation of real property, and WHEREAS, an owner of real property located in an economic revitalization area is entitled to deductions from the assessed value, pursuant to Indiana law, for a period of any number of years less than or equal to ten (10) years (i.e. one to ten years), and WHEREAS, an owner of new manufacturing equipment is also entitled to deductions from the assessed value, pursuant to Indiana law, for a period of any number of years less than or equal to ten (10) years (i.e. one to ten years), and WHEREAS, in order for Common Council to approve a Statement of Benefits to allow a deduction, it must make the following findings, to -wit: L That the estimate of value of the redevelopment or rehabilitation, as to real property, or the estimate of cost of the new manufacturing equipment, as to personal property, is reasonable for projects of that nature or equipment of that type. 2. That the estimate of number of individuals who will be employed of whose employment will be retained can be reasonably expected to result from the proposed described redevelopment or rehabilitation, or from the installation of the new manufacturing equipment. 3. That the estimate of annual salaries of those individuals who will be employed or whose employment will be retained can be reasonably expected to result from the proposed described redevelopment or rehabilitation, or from the installation of the new manufacturing equipment. 4. That any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed redevelopment or rehabilitation, or from the installation of the new manufacturing equipment. 5. That the totality of the benefits is sufficient to justify the deduction. NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, that the following property owner meets the requirements for property tax assessed valuation deductions, including the above findings, as follows: REAL ESTATE - 10 YEARS Recycling Center, Inc. New Jobs: 8 Jobs Retained: 80 Estimated New Value: $165,000.00 Dated: May 15, 2001 NEW MANUFACTURING EQUIPMENT - 10 YEARS Recycling Center, Inc. New Jobs: 8 Jobs Retained: 80 Estimated New Value: $1,864,000.00 Passed and adopted this 4k day of 2001, by the Common Council of the City of Richmond, Indiana. President (Karl Sharp) A4 E D, L'City Clerk (Norm Schroeder} PRESENTED to the Mayor of the City of Richmond, Indiana, this -5 -day of 2001, at 9:00 a.m. City Clerk d��(gorma Schroeder) 'PR VED by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this day of , 2001, at 9:05 a.m. f Mayor (S ley D. Miller) A �ity Clerk o STATEMENT OF BENEFITS State Form 27167 (R614-00) Form SB - 1 is prescribed by the State Board of Tax commissioners, 1989 INSTRUCTIONS: RECEIVED MAY 15 20161 FORM SB -1 1. This statement must be submitted to the body designating the economic revitalization area prior to the public hearing if the designating body requires infor- mation from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted to the designating body BEFORE a person installs the new manufacturing equipment and /or research and development equipment or BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction. "Projects" planned or committed to after July 1, 1967 and areas designated after July 1, 1987 require a STATEMENT OF BENEFITS. (IC 6-1.1-12.1) 2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabilitation, orprior to installation of the new manufacturing equipment and/or research and development equipment BEFOREa deduction maybe approved 3. To obtain a deduction, From 322 ERA, Real Estate Improvements and/or Form 322 EPA/ PPME and /or 322 ERA /PPR & DE, must be filed with the county auditor. With respect to real properly, Form 322 ERA must be filed by the later of (1) May 10, or (2) thirty (30) days after a notice of increase in real property assessment is received from the township assessor. Form 322 ERA / PPME and /or 322 ERA FAR & DE must be filed between March f and May 15 of the assessment year in which new manufacturing equipment and/or research and development equipment becomes assessable, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between March f and June 14 of that year. 4. Property owners whose Statement of Benefits was approved after June 30, 1991 must submit Form CF - i annually to show compliance with the Statement of Benefits. (IC6-1.1-i2.f-5.6) 5. The schedules established under IC 6-1.1-12.1-4(d) and IC 6-1.1-12.1-4.5 (e) effective July 1, 2000 apply to any statement of benefits filed on or after July 1, 2000. ThP Sr:hP.dlltPR PffartivP nrior 1n .hr1v f. 2000 shall continue to aunty to those statement of benefits filed before JuIV 1, 2000. SECTION• Name of taxpayer RECYCLING CENTER, INC. Address of taxpayer (street and number, city, state. ZIP code) 630 SOUTH M STREET RICHMOND IN 47374 Name of contact person Telephone number DEBRA EDELMAN (765)966-8295 SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resolution number COMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA 10-1984,11-1991 Location of property County Taxing district 630 SOUTH M STREET RICHMOND IN 47374 IWAYNE RICHMOND CORP Description of real property improvements and 1 or new manufacturng equipment and / or ESTIMATED research and development equipment (use additional sheets if necessary) Start Date Completion Date See attached Real Estate 05/15/2001 05/15/2003 New Mfg Equipment 05/15/2001 05/15/2003 R&DE SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current number Salaries Number retained Salaries Number additional Salaries 80 3,448,440 80 3,448,440 8 190,500 SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT NOTE: Pursuant to IC 6-1.1-12.1-5.1 (d) (2) the COST of the properly is confidential. Real Estate Improvements Machinery Research and Development Equipment Cost Assessed Value Cost Assessed Value Cost Assessed Value Current values 1,864,781 6,212,189 1, 863, 657 Plus estimated values of proposed project 165,000 1,864,000 745,600 Less values of any property beng replaced Net estimate values upon completion of project 2,029,781 81076,189 1 2, 609, 257 SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds) Other benefits: SECTION• i hereby certify that the representations in this statement are true. Signature Rjf authorized esentative {Tittle �/ V_' 1 LL C`fl7j Date si ned (month, day, year) Form S8.1, page 1 - Copyright 0 2001 Decision information Systems, Inc. ATTACHMENT TO FORM SB-1, page 1, Section 2 Name of taxpayer RECYCLING CENTER, INC. Description of real property improvements and ! or new manufacturng equipment and / or research and development equipment BUILDING FOR BALER $ 163,000 HRB BALER 275,000 2 BOBCAT LOADERS 70,000 2 FORKLIFTS 40,000 CONTAINERS & COMPACTORS 225,000 ROLL OFF TRAILER 42,000 CONVERTAINER TRUCK W/HOIST 112,000 2 DUMP TRAILERS 80,000 3 VAN TRAILERS 30,000 2 GONDOLA TRAILERS 40,000 HYDRAULIC CRANE ON RUBBER 550,000 RAILROAD SCALE INCL. INSTALLATION 250,000 RAILROAD MULE TO MOVE CARS 150,000 $2,029,000 Attachment to Form SS-1, page 1, Section 2 - Copyright Q 2001 Decision Information Systems, Inc. We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, pro- vides for the following limitations as authorized under IC 6-1.1-12.1-2. A. The designated area has been limited to a period of time not to exceed calendar yefte9below). The date this designation expires is B. The type of deduction that is allowed in the designated area is limited to: 1. Redevelopment or rehabilitation of real estate improvements; p Yes p No 2. Installation of new manufacturing equipment: p Yes p No 3. Installation of new research and development equipment; p Yes 0 No 4. Residentially distressed areas p Yes p No C. The amount of deduction appicable for redevelopment or rehabilitation is limited to $ cost with an assessed value of $ D. The amount of deduction appicable to new manufacturing equipment is limited to $ cost with an assessed value of $ E. The amount of deduction appicable to new reasearch and development equipment is limited to $ cost with an assessed value of $ F. other limitatinos or conditions (specify) Also we have reviewed the information contained in the statement of benefits and find that the estimates and expectations are reason- able and have determined that the totality of benefits is sufficient to justify the deduction described above. Approved: (signatu and title of authorized member) L Telphone number Date signed (month, day, year) -9 �� Boa Cry Attested by. � �k Designated body L VLk 1�� " the designate g body limits the time period during which an area is an economic revitilization area, it does not limit the length of time a taxpayer is entitled to receive a deduction to a number of years designated under IC 6-1.1-12.1-4 or 4.5 Form 513-1, page 2- Copyright O2001 Decision Information Systems, Inc. Form SB-lA City of Richmond, Indiana Taxpayer Wage & Benefit Information Company Name and Address: Recycling Center, Inc. 630 South M Street Richmond, iN 47374 The information requested on this supplement to form SB-1 must be completed and submitted along with your SB-1 in order for your tax abatement request to be considered by Richmond Common Council. Please retain your records and calculations used to arrive at the information requested on this form. It is subject to review as a part of our monitoring process. 1. Average hourly wage for existing employees 3 11.45 2. Average hourly wage for projected new positions 5 11.45 3. Average hourly health insurance benefit $ 3.13 The length of the abatement you are requesting 10 years (A 1-10 year abatement may be requested for real estate improvements and manuyacruring equipmenr. ) If purchasing equipment, please state the projected useful life. 15 years If purchasing equipment, please state whether the equipment is new or used. New and Used If purchasing used equipment, list the state in which it is being brought into Indiana from. IN/OH/KY _ DEMI ONS 1. Average hourly wage for existing employees: for your most recent pay period please provide the average base wage per hour for all current full time, non -supervisory employees. Do not include the following groups: A. part time employees; B. management, supervisors, foremen, or any other supervisory personnel; C. owners, stockholders, or partners if they own 2% or more of the business, and their family members. 2. Average hourly wage for projected new positions: Use the same definition of employees to be included as in number one above. 3. Average hourly health insurance benefit: Please provide the current company paid health insurance benefits provided to hourly employees (as defined above) and family members. Please present in the form of an hourly rate computed using the annual cost per eligible employee divided by 2080 hours. (Authorized Signature and Title) -. (Date) DISPOSITION OF ORDINANCE NO._,- - 2001 RESOLUTION NO. BY COMMON COUNCIL Ordinance No. - 200 Elstro Lundy Wissel Sharp Welch Parker Combs Dickman Hutton Resolution No. Date �n rules 1 st read Second Moved to Second Readi Second m Date Passed 6 F - a l COMMITTEE ASSIGNMENTS - Committee Date